What are the key technology and innovation implementation issues that have guided LEGO successfully
The lego is known for its innovative and creative approach that is why lego hs become one of the largest and most successful companies in the world.
Some of the key technological implementations and innovation issues related to LEGO.
Smart licensing:
Lego's started intellectual licensing in 1999 with the agreement with the star wars vehicles and characters. since that deal, it has sold over 210 million stat wars products. It is one of the main masterstrokes by LEGO.
2.: very fast prototyping:
Lego has implemented the concept of rapid prototyping by focusing on the R&D teams that only work on small projects and budget and develop a minimum viable product in very short time duration.
3. Open innovation:
Lego has implemented this by taking feedbacks of the su[pliers, consumers, and partners and implementing them into their products and services.
4. Developing and designing products only for girls:
In order to diversify its product lego has specially launched girls' only products whihc is doing well in the market.
5. Low-risk experiment;
Lego is not launching any high-risk product in the market that could affect the reputation of the company.
In brief, by implementing these key technological and innovation implementation LEGO has become one the largest and most successful companies in the world.
What are the key technology and innovation implementation issues that have guided LEGO successfully
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